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Banks report 25% rise in mortgage approvals

Banks approved 25.5 per cent more loans in February than they did a year earlier, according to the British Bankers’ Association. The six high-street banking groups approved 79,428 loans last month, up from 63,248 a year ago. Purchase approvals were up 20 per cent year-on-year to 45,892, while remortgage approvals rose 31 per cent to […]

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MPs propose early state pension access for women

The Work and Pensions committee has called on the Government to allow women affected by hikes in the state pension age to take their pot early, at a reduced rate. The proposal comes in response to the Women Against State Pension Inequality campaign, which has argued increases in the state pension age have been poorly […]

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Closed-book giant Phoenix: ‘No evidence’ exit fees blocking pension freedoms

Closed-book provider Phoenix Life says it does not consider exit charges a problem and finds “no evidence” penalties are stopping customers using the pension freedoms. The stance comes a day after Scottish Widows announced plans to scrap all exit fees on workplace pensions and Money Marketing revealed Standard Life and Prudential have capped penalties. Phoenix […]

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Who are the biggest brands in fund management?

BlackRock has emerged as the biggest asset management in Europe as Aberdeen Asset Management dropped out of an influential top 10 list following a struggling year of outflows. The list, compiled by market research firm Fund Buyer Focus, shows Aberdeen was voted the 13th most popular fund management brand, the Financial Times reports. Rival BlackRock […]

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Steve Webb: is it time for the care pension?

Steve Webb, Director of Policy and External Communications Steve Webb offers a potential solution to the issue of funding long-term care, by asking whether it’s time for the ‘care pension’. The UK’s long-term care system has been steadily spiralling out of control. Around one in four of us is set to spend more than £20,000 […]

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